General Metalcraft, Inc.

Client Profile
General Metalcraft (‘GMI’ or the ‘Company’) manufactured file cabinets and related products, selling to the large office supply store chains, discount chains, as well as, independently-owned office supply businesses throughout the United States.
Situation
GMI was privately held and its controlling shareholder made a decision to sell the business for estate reasons. At the time the decision was made to sell the business, the industry was in an economic downturn.
Solution
SSG identified both strategic and financial buyers interested in acquiring GMI. SSG initiated and negotiated the sale of GMI to SteelWorks, Inc., a direct competitor, while taking into account a heightened level of confidentiality.